tv The Evening Edit FOX Business August 22, 2018 5:00pm-6:01pm EDT
single second so carb lovers, be prepared to click right at 2:00 p.m. connell: i'm not a big olive garden guy, believe it or not. the breadsticks are good. melissa: you ate through the entire -- connell: the breadsticks are good. i will give them that. melissa: that does it for us. john: you guys get all the food. we have a big show tonight. today marks the longest bull market run ever. our money market panel has your next moves. to the political sphere. president trump's former attorney michael cohen has been subpoenaed in connection with the trump foundation investigation. this after he pled guilty yesterday to eight criminal charges including tax fraud and campaign finance crimes. attorney doug byrnes is here to explain. authorities saying the suspect in the murder of mollie t tibbetts may be an illegal immigrant from mexico. we bring you the latest. thank you for watching.
money, politics, we got the debate behind tomorrow's headlines. i'm in for my friend liz macdonald. "the evening edit" starts right now. today we hit the longest bull market streak ever in history, stretching back to august 2009. the s&p touching a record high, led by strong earnings reports in the consumer sector. the dow finishing the day down 88 points to 25,733. joining me are our money gurus to break it down. jason ropman and michael lee. gentlemen, you are both bullish on the market. jason, i want to start with you. i have never seen analysts so split over a market right now. it goes from everything from the tax cuts t slowdown in china and europe, the u.s. is the best place to be, to the other side that says the valuations have gotten out of line, rising rate environment, potential trade
war, build a bunker, get a bunch of canned meat and hide from the world for ten years. which camp do you sit in? >> well, you know what, i'm going to go one step further and let's go beyond what the analysts say and go right to the fed. the mantra has been don't fight the fed. you never fight the fed. if you look at what the fed said in their minutes, you can read the statement, the fed is very bullish on the future. increasing gdp, long-term inflation contained, tax cuts having a potential positive impact. that's all i need to see. the fed is bullish on the economy. yes, there will always be downside risk, so on and so forth. obviously political situation happening. the fed's bullish, i'm bullish. john: you talk about the fed, most the time when you see rising rate environments, because the economy has gotten so much stronger, you see a stock market appreciate during that period but eventually you see rising rates are starting to hurt this economy. when does this economy, you feel, start to get hurt from this, or has the tax cuts that
have come through mitigated that rising rate environment? >> well, look, when rates start to rise that's generally a bullish sign for stocks. only when the fed starts cutting rates do you want to start cutting stocks. you are cutting rates in the face of an economic slowdown. i don't see any economic slowdown at any point in the near future. at some point this will have to end, but there's no data to support any type of slowing at any point in the next 12 to 18 and even 24 months from now. john: what's the difference between this and the 2000 bull market that was the longest up until today? you had, of course, the internet bust, you had gdp of 1% in 2001. what's the difference right now between, say, valuations of 2000 and valuations right now as far as how this market is priced? >> great question. so in 1999, we got to about 24, 25 times forward looking s&p 500 earnings in 2000. right now, we are at about 16
times, 17 times. balance sheets are much cleaner. we just had the largest deregulatory event in history, just had one of the largest fiscal stimuluses in history and are doing it again with some of the cleanest balance sheets on the corporate side as well as the personal side that we have ever seen in history. the savings rate for the u.s. consumer is at about 7%, to go along with debt to asset at the lowest level in 30 years, and household debt service, the cost that it takes to carry that debt, is also at the lowest level in 30 years. i think we are off to the races and this is just the beginning. john: when you talk about consumer savings, that is an issue because consumer spending drives about 70% of the gdp and right now, you are starting to see retail sales that were just amazing. especially target coming out in the last 24 hours. why has it been so long for consumer spending to pick up? have the tax cuts had a delayed effect and we are also starting to see wages rise for the first time but that's been slow as well, right? >> yeah. wage growth has been slow, but
again, when you are talking about national wage growth, that's a lot of money that needs to be measured. we're not going to see 1% wage growth every quarter or even every year, for that matter, although that would be nice. i think the tax cuts -- the thing is, this is a big glacier. we are in a multi trillion dollar economy. we won't have 2% gdp to 5% overnight but the key is, the trend. the key is if you take a step back, look at the trends of wage growth, the trends of housing, the trends of stock prices, inflation is in check for now. rates are not going to the roof right now. i agree with the other guests. this is a pretty healthy recipe for a continuation of the bull market. john: the one thing that appears to be unhealthy, at least has been a distraction to the market, there's some huge distraction out there right now in the united states, you would have to be under a rock not to know this. in the past, presidential scandals, you have two presidential impeachments, johnson and clinton. you have had a president resign,
president nixon. at no time did that affect the market long-term, either way. when the market was down in the '70s it stayed up. when the market was up in the 1860s under johnson it stayed up. does this worry you at all? do you think it has any effect on this market? >> frankly, this time could be different. i'm not going to say is because we don't know what the future holds yet. but the reality is at least in my mind, this whole rally since the election, since the day after the election essentially is really a donald trump-fueled rally with his policies, with his fiscal policy,s, his pro-growth policy getting billions of dollars investment his first week in office. this is a very personal rally, meaning a presidential rally. if for some reason this legal effect does come to donald trump, we will see people come out of the market, not in droves. i'm not saying 10% overnight but we will see a top.
john: do you see a top because of a political firestorm? it seems to be mitigated, the market was down a little today but it didn't seem to be in response to all of this stuff that came out and as far as what you are doing right now, if you are staying in the market, where are you advising your clients to put your money? >> i don't think these headlines are good headlines, but i would also make the point if you believe anything coming out of lanny davis' mouth, i have a bridge i would like to sell you. what i'm telling my clients now is that you want to shorten up your duration on fixed income and the u.s. markets look great. i particularly like finance and tech. we are talking about all-time highs. the tech sector just hit their all-time high from way back in 2000. they just lost it recently. finance hasn't even blown through their 2007 highs. think we have a lot more to go. i'm really positive on u.s. equities. john: you say a lot more to go. where would we be right now without the negative headlines
or the potential black cloud headlines? you look at the potential trade wars that are going on, look at what can happen in turkey as far as an imf bailout, contagion effect as far as the spanish and french banks and what's going on in europe and the potential of inflation out there. do you think the market is significantly higher here, if you take these potential black clouds off the table completely? >> see, things can always be better. i don't think turkey or what's going on in some of the small situations or really these trade wars have any really material impact, which is why you have seen consistently with small selloffs and then rally back. if we have any more big -- i'm a bai buyer on weakness. john: talks have major issues outstanding, as the trump administration is planning to announce a breakthrough has been reached and a handshake deal
with mexico was coming tomorrow. you remember when ross perot, my neighbor in bermuda and fellow texan, that second sound you hear is jobs going down to mexico. did that materialize as bad as it was and does this trade negotiation need to be redone and if it is redone, does this assuage the market's concern as far as trade tariffs? >> no. you know what, again, the market is generally, generally smarter than any individual, unless you are the michael jordan of trading, and there are those folks out there. the reason i say that, again, like i started with, don't fight the fed. don't fight the market. the market is not really concerned that this deal is going to fall apart. whether the handshake happens tomorrow or not, i don't think there's much leverage on the other side, on the mexico side. we have all the leverage. yes, there is this energy thing the president-elect is trying to figure out and kind of pull back what was already agreed upon,
but the market's not concerned about that and i think we will have a handshake, whether it's tomorrow or next week. john: when you talk about an agreement, michael, i want to talk about china specifically. you talk about mexico. it's not a zero sum game. when you talk about china, it's the second biggest economy in the world. you don't want to win 100% of it. you want them to be able to come out of this and say that they won as well or at least feel they won, or at least allow president xi to be able to tell his people that he won. what is the off-ramp on china? how do they get out of these new $200 billion in tariffs that could be coming and still save face which is so important not just for china but for any country in the world today? >> well, what you need to remember is why we are putting these tariffs on and attacking these countries from a trade battle standpoint is we are trying to open up their markets. these countries, while certain industries and certain specific companies inside these countries may suffer in the short-term, ultimately their economies will benefit in the long run by
opening up their markets. what we are doing, it's only winners. some are short-term and that would be a lot of u.s. companies being able to export and investors being able to invest in these countries that have closed markets but they will ultimately benefit frin the lon run. john: jason, can we do everything at once? we are talking about multi-tasking. you guys are smart guys, but we are talking about politicians. we picked almost a trade fight with the entire world. we have trade negotiations coming up with the eu, coming up certainly with mexico and perhaps canada as well, along with china while we are still trying to fight china on intellectual theft of property. could you think that we can take on all these fights at once or would it be better to target one specific thing like china and intellectual property theft first? >> well, there is kind of a pun intended and it just came to mind but donald trump is like a
bull in a china shop. this is exactly what we are seeing. so it's to be expected. there is a famous chinese blessing, may we live in interesting times. this is what's happening. like we can't avoid it and you know what? there is an administration that's being proactive. the market loves the administration and we should embrace it and hope for the best and work towards the best as well. john: when you are doing live tv, you love interesting times. i completely agree with the chinese proverb you just quoted. jason and michael, thank you both very much. tune in to fox business coverage tomorrow. the fed's economic symposium in jackson hole, wyoming. edward lawrence will interview esth esther george. let's check the money. the dow is down 88 points. nicole petallides is on the floor of the new york stock exchange with the latest. nicole: an exciting day because we made history, the longest bull market run ever. i will explain that in a minute. take a look at the markets today. mixed bag here with the russell
that hit another all-time high, its 25th of this year and second straight record close. the dow finished down 89 points. we did see nike and american express, all-time highs. but back to that long bull run. since 2009, march, you can see how the dow, nasdaq and s&p performed. s&p up more than 320%. the bull run winners included amazon, netflix, google, apple, microsoft. netflix up over 6,000%. people are feeling optimistic around here. back to you. john: thank you, as always. president trump adding new sanctions on russia as facebook shuts over 600 misinformation accounts linked to russia and iran. and new fallout for president trump's former personal attorney michael cohen, now being subpoenaed in connection with the trump foundation investigation. our legal eagle weighs in next.
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john: president trump's former personal attorney michael cohen has been subpoenaed in connection with the trump foundation investigation. this after he pled guilty yesterday to two counts of campaign violations, saying trump directed him to pay hush money to stormy daniels and a former playboy model. president trump responding in an exclusive interview with fox news channel's ainsley. reporter: did you know about the payment? >> later on, i knew. later on. you have to understand, what they did, it wasn't taken out of campaign finance. that's a big thing. that's a much bigger thing. they didn't come out of the campaign. they came from me. i tweeted about it. i don't know if you know, but i
tweeted about the payments. but they didn't come out of campaign. in fact, my first question when i heard about it was did they come out of the campaign, because that could be a little dicey. and they didn't come out of the campaign and that's big. but they weren't -- it's not even a campaign violation. if you look at president obama, he had a massive campaign violation, but he had a different attorney general, and they viewed it a lot differently. john: you can see the rest of the interview with president trump on fox & friends tomorrow morning at 6:00 a.m. eastern. joining me is former federal prosecutor doug burns. i have so many questions, as most of america does. this is an insane time. we were live on air yesterday when all this stuff was breaking and you are trying to figure out what's a felony, what's not. you have a lawyer in michael cohen who says then-candidate trump was directing him to commit a felony. >> it's a little counterintuitive and that makes it interesting. when i heard that happen, right
away i had a different take. if somebody is really cooperating, the last thing that will happen is have them state in open court elements of that cooperation. they would be very quiet, just state the bare bones of what they did. john: you think michael cohen just said that to take a dig at the president? >> my take is he and his counsel, i will be diplomatic, decided to do that. no, i'm not kidding. look, the politics stuff is a little out of my area but lanny davis is no friend of the president, obviously. he's not supposed to factor that into his legal representation but at the same time, i don't believe, i don't think the southern district -- see, when we take a plea, meaning a client, they say send me the allocution, what the client is going to say, and they go over it. i don't think that happened here. i think they said they would admit the elements of the crime and then turn around and say by the way, this was in coordination with and at the direction and he was like what did he just say? point is, when the dust settles
24 hours later and experts are trying to handicap this, i spoke to some of my friends, former assistant u.s. attorneys, they were saying it's not clear that he's going to cooperate with mueller, seriously. it's not clear they want to use him. but again, just looking at this, trying to handicap it. you know, the southern district did not, repeat, did not enter into a cooperation agreement with him. so it's a little bit tricky and counterintuitive and it will be interesting to see when the dust settles in the next couple of weeks what does or doesn't happen. john: not to get into the weeds here but when you talk about cooperating with mueller which is what people were wondering if he would do, mueller was supposed to be investigating the 2006 russian meddling, not payments to a porn star. >> preaching to the choir. john: how will he cooperate with -- >> let me say this. first of all, thank you for making that point to set this up. on many levels, this is payback, this is interesting, for the ken starr fiasco.
he was tasked with whitewater and went into all new areas. now, politically, when the complaint comes in from you and i, wait a minute, he was supposed to look at russian collusion with the trump campaign and you have people in the media saying his campaign manager was just convicted of a crime and tloohey leave it ther. it was ten years before he was involved with the campaign. fact of the matter is to your question, finally, honestly, i agree with you. i don't think these guys necessarily have a lot to offer. that's the part everybody wants to gloss over in their zeal to get the president. you have guys on tv all day today, now that manafort has been convicted, now will he cooperate. guess what, in the real world, when you make prosecutors go through a full-blown trial, they almost never want to hear from you. john: the ken starr investigation led to impeachment, which was the worst thing they could do because people turned on them. who would they be doing this in favor of? is this the democrats pushing it, the media pushing it? >> that's a fascinating question seriously, because that goes to the core political question of
is this a good idea to run on impeachment. you heard that going into the midterm elections. maybe a bad idea to even run on that because the president is saying clearly, you know, vote for republicans if you don't want to see an ill-advised impeachment. your question is if the democrats get control of the house of representatives after the midterm election, then what will happen. i made the kind of wild and shocking prediction i'm not so sure they will seek impeachment. i don't think they will. john: i don't think they will. it just seems to me it's so hard to prove campaign finance law -- >> campaign finance law is a technical in the weeds -- john: you have to prove intent. >> i love that phrase in the weeds. professor dershowitz says use the shoe on the other foot test. if you were going after a democrat on this they would be screaming what, are you kidding me, look at john edwards, they couldn't convict him. to your point, it's worth repeating, there are higher hurdles of intent and willfulness there. the point is, i thought it was reckless, seriously, not to be harsh, to glibly say dleehe dird me to do it. there are many other questions.
was it for the purpose of the election or for the purpose of protecting his family. all that has to come into play. john: i'm not going to ask you to read minds but you're a smart guy. i will ask you anyway. whenever you say i won't ask you to do that, they ask anyway. manafort, does he get pardoned? 2005-2007 bank fraud, if he broke the law he should be prosecuted but that has nothing to do with the election. does he get pardoned? >> great question. i have an interesting answer. not only do you have pardon, you also have commutation of sentence. the president could let the conviction stand but commute his sentence. john: i could talk to you all night. unfortunately, we got to go to break and do other things. thank you so much. appreciate it. the suspect in the murder of university of iowa student mollie tibbetts has many calling for stronger immigration laws.
john: the trump administration imposed new sanctions against russia, blacklisting firms and individuals accused of violating bans on energy trade with north korea and breaking laws against cooperation with russia's intelligence arm. the measures are part of escalating diplomatic pressure on moscow to stop its alleged tampering and cyberattacks. some say these additional sanctions still aren't enough and should we do more. christian, i want to apologize to you for calling you christian witner. my mistake. >> i think sometimes we do things, we misjudge putin's motives. i want to ask about a meeting putin had with the taliban in
moscow. some people say it's to destabilize the region. there's two pipelines that run by afghanistan, one runs underneath it to connect asia with south asia. those are huge. when putin does things, it's generally to extend his energy infrastructure. is what he's doing with the taliban to gain some type of control in afghanistan because of that energy infrastructure expansion? >> yeah. well, i think basically putin wants to demonstrate relevance, wants to demonstrate that russia is a major player. if you look at its economy, not that big, just over $1 trillion if you use real gdp. that's a little bit bigger, i think, than italy. of course, historically, russia has been a major power and it does have global reach and very big ambitions. so in afghanistan, as you mentioned, also in the idea that russia will be a major power broker in syria. you have russia basically exerting influence in central asia, in the middle east and
eastern europe and parts of the former soviet union so there is part of that going on. john: one of the problems i have with cohen and manafort, what they are supposed to be investigating is russia collusion and russian hacking. we are arguing so much over who was colluding with the russians, and the problem is the russians are the ones that hacked the election. you are a former trump senior adviser. are we doing enough? you recently had the def-con hacking convention. an 11-year-old hacked a replica of the florida election system in ten minutes. seems like we are incredibly vulnerable and we are sniping at each other and not doing enough to stop russia. are we doing enough? >> we need to harden our systems here but interesting thing has happened that if you put what russia did in perspective, the idea if you look at the first mueller indictment back in january, february, that they spent $1.5 million per month on social media, that's really a drop in the ocean as far as presidential races go.
yes, the russians are doing things, yes, it's bad, but we have a lot of yellow journalism going on. i think if you look at our country that actually china is the biggest threat to our political systems. they have tentacles deep into universities and think tanks. clearly we should do more with russia. if you look at all these sanctions we have been putting on russia, more went on yesterday, and big ones coming in november, if they don't apologize and do a mea culpa for using nerve agents to allegedly kill two people in london, it's not having an effect on the russian economy. john: you say it's not having any effect on the russian economy yet is what you are saying, sanctions we are putting on? >> not a big one. the ruble is off over the last year about 15%, although if you go back three years, it's actually fairly stable over that extended period. but unemployment in russia is pretty much at an all-time low in post-soviet times. economic growth is okay. if you look, their long-term prospects for investment aren't
good because foreign direct investment has been scared off by these sanctions and the promise of more. but russians sort of pride themselves on going through hardship and they certainly see it in their poetry. it's part of their culture. if we want a change in russian behavior, i think president trump is right to at least put out feelers to putin. john: look, i agree with that. i agree with meeting. i agree with president obama who said he would do the same thing. our leaders should meet with these people. otherwise nothing gets done. president putin obviously remembers the fall of the soviet union which had a lot to do with falling oil prices and his country becoming insolvent. same thing in the 1990s when russia fell under yeltsin because of oil prices. what can we do specifically? do you think the sanctions are simply the road to stay on? we had facebook shut down over 600 of these different false accounts. is that what facebook is doing, is a public/private partnership enough to stop this? >> i think they are going the right direction. the key is to making industry, and i think companies, private
companies, tech companies, social media, certainly has seen the necessity of doing this. you know, there's all this buzz about artificial intelligence and robots taking over jobs. if artificial intelligence can't even detect whether a twitter account is run by human beings or whether it's just a bot, i'm not too worried about a.i. taking over the world. but jokes aside, what facebook did is right. incidentally, it surprised a lot of people. it also ended up deleting a bunch of accounts associated with iranian political activity. that of course doesn't fit the narrative some on the left want that this is all about russia, russia is -- basically russia got donald trump elected which of course is not true. john: i'm actually worried further about that. i'm worried about intelligence in congress, period, whether artificial or manufactured. that's what worries me. stay right there. you will be right back after the break. last night's west virginia rally, president trump reiterating the manafort and cohen cases have nothing to do with collusion. we will debate. first, the farm that employed the suspect in the murder of mollie tibbetts say
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john: debate raging over criminal illegal immigrants in this country. president trump calling u.s. immigration laws a disgrace. this after authorities revealing that the suspect in the murder of 20-year-old iowa college student mollie tibbetts may be an illegal immigrant. here are officials explaining what took place. listen. >> during that interview he tells us that he sees mollie running and was able to come upon her, approach her, and while he was interfacing with her, he actually tells us that he ran alongside of her or behind her, and then at one point, he tells us that mollie grabbed ahold of her phone and said you need to leave me alone, i'm going to call the police, and then she took off running. he in turn chased her down and then he tells us that at some point in time, he blacks out. john: the suspect's attorney claiming he is here legally, based on information that the suspect's employer verified his status with a state-issued photo i.d. and social security card provided by the suspect.
since then, the employer said they knew the suspect by a different name and admitted that these documents might not have been fully verified. citizen and immigration services spokesman michael barrs provided a suspect on the suspect's status saying quote, we have found no record in our system indicating he has any immigration status. we also reached out to iowa division of criminal investigation and were not provided with a statement. christian is back with us. christian, we tried to find out, we called all kinds of people in iowa. there's two different stories. there's a story from his attorney, the first story from his employer and also the story from the government that seemed to be in dispute here. is this to me the lack of verification, is this the biggest -- one of the biggest problems with illegal immigration in this country? >> i think so. obviously the border is a huge problem, the fact it remains porous and people seem to cross it with remarkable ease, but also then once people are in this country, the inability to detect them and who knows, we
are still trying to figure out the facts on what this company did. obviously someone who allegedly committed murder, who confessed to committing murder if the police are to believe, and i do believe them, probably also wouldn't have any problem using false identification, but our ability to detect and kick people out of this country or incarcerate them if they are illegals, is insufficient. john: every president since reagan has said the same thing, they are going to secure the border and deal with people who are here illegally in one way or another. all the presidents have failed in a great degree on both of those. why can nothing get done to fix immigration in this country? >> i think really, for the longest time, a lot of people didn't actually want to get things done. i don't know if those presidents were being duplicitous. the "wall street journal" editorial page and chamber of commerce, others, have wanted illegal immigrants, illegal
immigration in order to keep wages down. i think we have seen wages increase in the trump administration. that's a good thing. that will help the lower middle class. on the left, of course, you have a great desire for illegal immigration because they think it adds democratic votes and has done a lot to transform california from a toss-up state to a solidly democratic state. that's why donald trump's message is so popular. build a wall, then focus on other illegal immigration and then maybe we can talk about daca. but we're not going to do amnesty first. we have been fooled by that too many times. john: i say, just switching topics here, deporting a 95-year-old former nazi guard, it's hard to believe any of these guys are still alive but i'm glad they are still rounding them up. yesterday, living in new york for decades. here's assemblyman from new york thanking the president. >> you can talk, and talk is cheap. getting things done is what president trump just did. it is huge and it's not about being a democrat or republican. as a democrat, i say to my fellow democrats, stop this
nonsense. stop making everything into a political thing. when the president does something huge like getting rid of the last nazi from queens, new york, say thank you, mr. president, for doing an amazing thing. god bless the president. john: christian, this is nuts to me. we just deported a nazi, an actual nazi. it's hard to believe any of them are still alive but i don't care if they're dead. dig them up and hang them. we just deported a nazi and can't even get on the same page. is this country this polarized we can't even come together and say this is good, we deported a nazi? >> it's shocking how much everything has become politicized, including mollie tibbetts, which we discussed earlier. there was a left wing commentator who came out and said why are we talking about this girl in iowa when we could be talking about manafort and cohen? it's amazing how everything has become politicized. that is a great piece of work that was done in deporting that
nazi. lot of work by the white house, also by the ambassador in germany, getting the germans to agree to get this done and he can face justice over there now. we can get beyond this. to his credit, the democrat you cited earlier is one person willing to put his country ahead of partisan politics. john: thank you very much for your time. i appreciate it. you won't believe this. michael cohen now has a go fund me page. that's right. a go fund me page, with a $500,000 goal. find out how much it's raised so far. you won't believe this. copd makes it hard to breathe. so to breathe better, i go with anoro. ♪ go your own way copd tries to say, "go this way." i say, "i'll go my own way, with anoro." ♪ go your own way once-daily anoro contains two medicines called bronchodilators that work together to significantly improve lung function all day and all night.
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where is the collusion? you know, they're still looking for collusion. where is the collusion? find some collusion. we want to find the collusion. john: president trump addressing the probe into alleged russian election meddling at a rally in west virginia last night. just hours after his former lawyer, michael cohen, pled
guilty to federal fraud charges. an ex-campaign chief, paul manafort, was convicted by a jury on eight counts of bank and tax fraud charges. let's take it up with our political panel. emily, i want to ask you first something about this insane go fund me page. this guy is better call saul lawyer for lack of a better term, a fly-by-night lawyer that's dirty as he can possibly be. people dislike the president so much, they would pay right now it's up to $112,000 for this go fund me page. is the country that polarized that that's what we're down to? >> that's what i'm wondering. i can't picture a person who would actually make a donation to this fund. it's incredible. donate to a real charity. it's hard for me to envision what would motivate someone to support michael cohen, knowing what we know about michael cohen, unless it's based in some deep-seated animus against the
president. it makes no sense. i don't know why anyone would do it. john: it's crazy. same thing, peter strzok has a go fund me page as well. these guys have committed crimes and people want to support them i think because of their political leanings. wendy, i with like ould like to we are ten weeks away from a midterm election which will be contentious. the president's party has lost seats in the house 35 of 38 times since the civil war. seems like history certainly is against president trump here. what is going to be the main topic? is it going to be this potential impeachment of the president? is it going to be the debt which nobody is talking about, republicans or democrats? what are the main topics leading into the midterms and what do you think gets your peat tarty win? >> i think right now the main focus for the democratic party is they have to focus on things no one is talking about. they can't lead with impeachment because that will turn some people away. we have to talk about education, about health care. but what we cannot underscore enough is that cohen named a
sitting president, the president of the united states, as a co-conspirator in an attempt to influence the 2016 presidential election. while we may try to dodge that, pivot that or try to use talking points to avoid addressing the issue, it still remains that that's going to be at the forefront of people's heads when they go into the election booth in november. let's keep that conversation going. john: it backfired on the republicans against president clinton and there was also a crime there as well, over an affair as well. still say alleged affair because i think president trump denies this. how does that not backfire when history has a way of repeating itself? >> i think that's a great question. wendy is saying, i think what democrats want is for this to be at the forefront of voters' minds going into the ballot box in november. i think that's what they want it to be. i don't think it is, because if you look at the late '90s, great economy, we have a great economy going right now. what really is at the forefront of voters' minds when you look at polling is the economy, is jobs for democrats, is health care. i think the party needs to figure out a way to talk about what really is on voters' minds.
there are serious issues to address with the president. i will say that as a conservative. it's very fair for democrats to talk about it but when you talk to voters around the country and you talk about what's going to motivate them when they are casting ballots, for a lot of them it is not going to be this. john: it seems like voters sometimes get lost and they get lost and disenfranchised. i think it's what happened with president trump winning the election in the first place from ms. clinton, with theresa may when she misjudged the british people. david cameron on brexit. so much angst against the political establishment right now. do you think it's a good strategy if you hinge part of your bet on the fact that trump could be a party to campaign finance law violations and he's hanging around unsavory characters? >> no, i don't think so. what i do think is really important is if we are talking about alienating and marginalizing the base, and that's one of the root causes for trump winning. please understand for the past month, year that trump has been
in office, he alienated minorities, women, immigrants. so yes, we continue to see this alienation happening but it's not coming from the democratic party. it's coming from the republicans. it's coming from the leader of the republican party. so again, emily is right, you know what, cohen may not be at the forefront of people's minds in november because if this administration has shown us anything, they continue to do things week after week and they continue to mess up. in november, we will be talking about something else. but again, that alienation piece coupled with whatever is the hot topic in november is going to be what voters go into the election booth with. john: two intelligent diverge n int viewpoints. thank you. the democrats trying to halt the confirmation hearing for supreme court nominee bret kavanaugh. that's next. xfinity mobile is a new wireless network
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john: democrats like chuck schumer calling on republicans to suspend the confirmation hearing for supreme court nominee brett kavanaugh, after donald trump's former lawyer, michael cohen, pled guilty in a new york court. back with me, emily and wendy. wendy, i will start with you. i said democratic obstructionist going into break. republicans have done pretty much the same thing about supreme court picks. is this a reason, though, to obstruct this because of what happened with mr. cohen and mr. manafort yesterday? >> i definitely think it's a reason for pause. why i say that is we have an individual, trump, who has been named as a co-conspirator and he is appointing someone who could possibly hold the highest office in the land, right, outside of the president, being a supreme court justice. with that being said, if you break the law, how can you appoint someone who is supposed to be an overseer of the law? that's highly questionable.
second, we also know that brett kavanaugh had the lowest public approval rating in 30 years. that coupled with the fact that his record when he was a white house secretary has not been released to the public. so there's a lot of questions surrounding his nomination. we shouldn't rush this. the american people deserve to have the full breadth of what's going on with this nomination. john: i want to get to emily here but want to ask a follow-up. you said he broke the law and was named. he was named only by cohen who was speaking ad lib when he said that. you don't know for sure he broke the law, right? >> i know cohen named him as a co-conspirator. if we discredit cohen, we have to discredit the person who hired him. john: you have no evidence he broke the law, correct? >> it's yet to be seen. john: okay. fair enough. emily, your point on this? >> so let's just assume that donald trump was guilty of what michael cohen seems to be implicating him, campaign finance violation.
just assume that for the sake of argument. none of that changes anything about brett kavanaugh's record. so that's going to be what senators take their time in this confirmation process fleshing out. they will ask him tough questions, there's no doubt about that. he will face the hardest questions the senators can throw at him. there is still going to be pressure on people like susan collins and lisa murkowski to consider their votes very carefully. they will be facing pressure. but none of what you know about donald trump from paul manafort or michael cohen, if you take any of the stuff as definitive, which a lot of it i do, even if you take it all to be the case, it doesn't change a thing about brett kavanaugh's record so i don't think these efforts by the democrats will be successful, that being supreme court politics are exhausting. john: it still doesn't get into russia collusion which is how we started this thing to start with. you both are terrific. thank you very much. we'll be right back. year, i am sorry about that.
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john: you don't want to miss maria bartiromo interview with michael milken tomorrow morning on "mornings with maria." charles: the bull market payment longest on record as the economy continues to soar. year in the longest running bull market in u.s. trading history. is marks 354 days of gains without a 10% pullback. a lot of people are asking several questions. can the economy remain this hot? and can it get hotter? and finally what will it